Marcum LLP Launches Robotic Process Automation Service for Clients

New York City, NY – Marcum LLP announced today that it has launched a new service utilizing “bot” technology to automate repetitive manual processes and streamline many data-driven functions for its clients. Marcum’s new Robotic Process Automation (“RPA”) Service leverages the Firm’s internal experience utilizing bot technology, to help clients reduce their operating costs and improve efficiency.

RPA can be implemented across a wide variety of applications and systems, deploying a “virtual workforce” of bots to perform tedious functions that are time-consuming and prone to human error. Some of the functional areas well-suited to process automation include accounts payable processing, data entry, human resources onboarding, inbound lead processing, report generation and distribution, and web data retrieval, to name a few.

“In addition to eliminating manual tasks that employees would otherwise spend hours to complete, RPA frees valuable staff to be deployed to other functions requiring human judgment and innovation. It is also a practical and cost-efficient alternative to outsourcing,” said Robert Drover, a principal in Marcum’s Advisory Services Division, who leads the Firm’s national Process Improvement Practice.“RPA has limitless scaling capabilities and delivers real and measurable return on investment. In some cases, clients can recoup their initial investment in as little as a few months.”

Marcum’s Robotic Process Automation services cover all stages of development and implementation, including:

“Robotic process automation is a must-have in any forward-looking digital portfolio. The continual acceleration of functionality in RPA solutions and the convergence with robust application programming interfaces, or APIs, enables significantly greater efficiency in today’s digitally driven office,” said Peter Scavuzzo, Marcum’s chief information officer and a partner of the Firm. “Given our success with robotic automation and other new technologies in Marcum’s business, the next logical step is to share our expertise with our clients to assist in their own digital transformation. We see it as part of our role as their trusted advisor.”

“Robots operate 24 hours a day, 365 days a year, and never take breaks, vacations, or sick days. They can be executed by a scheduler at pre-determined times, or they can be triggered to execute in response to defined events such as the arrival of email or text messaging and, soon, voice-activated commands,” Mr. Drover said. “In addition, we can simulate user interaction to enable bots to ‘read’ error messages and adapt to ‘fix’ problems presented on-screen, to keep processes moving. Continued advancements in cognitive computing will only further enhance this capability.”

Marcum offers a comprehensive portfolio of technology services to its clients. In addition to the new Robotic Process Automation program, other technology services include Cyber Security & Testing, Information Risk Management, Operational Effectiveness, Data Privacy & Compliance, and Technology Consulting. All of these services are complemented by Marcum’s full range of audit, tax, and advisory services. For more information, visit www.marcumllp.com.

About Marcum

Marcum LLP is one of the largest independent public accounting and advisory services firms in the nation, with offices in major business markets throughout the U.S., as well as Grand Cayman, China and Ireland. Headquartered in New York City, Marcum provides a full spectrum of traditional tax, accounting and assurance services; advisory, valuation and litigation support; and an extensive range of specialty and niche industry practices. The Firm serves both privately held and publicly traded companies, as well as high net worth individuals, private equity funds and hedge funds, with a focus on middle-market companies and closely held family businesses. Marcum is a member of the Marcum Group, an organization providing a comprehensive array of professional services. For more information, visit www.marcumllp.com.